Floater Insurance

Floater insurance is a special insurance program intended to complement the university’s all-risk property insurance. It provides replacement cost coverage for department property that has a high incident rate of theft and/or damage. There is no deductible for losses sustained under the floater insurance program. Losses are paid based on the full repair or replacement cost of the item.

What Is Covered

Examples of covered losses include theft, accidental breakage and water damage. The floater does not cover equipment normal wear and tear, maintenance costs or inventory shrinkage. Items that cannot be insured include cell phones, personal items and cash/gift cards.

Obtaining Coverage

Unlike coverage under the university’s blanket property insurance, coverage under floater insurance is not automatic. Coverage becomes effective after a department has submitted the floater insurance add/delete form.

Cost of Coverage

There is a premium charge of 50 cents per $100 value, based on the purchase price of the item, for each item insured under the floater. The department will be charged for this premium via journal entry at the end of each fiscal year.

Filing a Claim

To file a claim, complete the property loss notice form.

Got Questions?

Contact Debra Adask
debra.adask@wustl.edu
(314) 935-7750

Email Debra